Audience Spotlight: TEGNA Insights for Building Creative Campaigns for the Home Improvement Market & DIY Crowd
With audiences as diverse as the communities we serve, this Audience Spotlight takes a look at the mindset of homeowners, both new and old, looking to complete home improvement projects.
Since 2020 when the pandemic first hit, millions of Americans have opted to renovate and refresh their homes to create a more inviting environment for everything from work-from-home life to the return of family gatherings.
Despite the looming threats of a recession and ongoing supply chain issues, it’s a trend that is forecasted to continue into 2023, d. In fact, a recent survey from Houzz shows that 23% of homeowners plan to start a home improvement project in 2023.
This audience is valuable for home services brands, yet it is unique and challenging to reach. What does the average home-improvement seeker look like? What are they looking for? Here are some insights to consider when looking to capture the hearts and minds of this audience:
Millennials’ Fixer-Upper Fever
Millennials make up the majority of first-time home buyers, and 82% are willing to purchase a fixer-upper in need of major repairs – but 1 in 4 that do, regret it. Additionally, in 2021:
- Sales of homes needing renovation climbed over 13%
- Fixer-upper homes sold faster than turnkey homes, and the dollar value of deals surged 41% from pre-pandemic.
Home Improvement Boomers
The boomer generation will account for 56% of all residential remodeling spending by 2025. They show a need to make their homes as safe and comfortable as possible as they address aging-in-place renovations.
For home improvement brands, project timelines are critical in understanding the best advertising time.
- Among the 23% of homeowners in the Houzz survey who plan to renovate in 2023, 58% will start in January 2023 or earlier.
- 41% of homeowners usually start thinking about home improvement projects during Q1
- 39% of consumers usually decide to take on a project during Q2
- 15% of consumers start projects in May, and 14% start in June
- 41% of projects are completed by Q3, and the renovations are ready for the holidays
Source: HIRI, Why You Should Tap into Seasonal Project Planning Data, 2022
When it Rains, Business Pours
Shifts in the weather signal to homeowners that it is time to start investing in making some improvements and renovations around their property. Depending on the project, some improvements may be related to changing seasons.
- Success Story: When bad and severe weather hits St. Louis, iRestore is top of mind for homes needing repairs in the storm’s wake. Find out how a severe weather alert campaign with TEGNA’s KSDK led to a huge increase in business.
What’s Getting Remodeled?
What are the most popular areas to remodel and renovate? A growing number of homeowners are focused on sustainability and functionality at home, which includes upgrades to bathrooms (37%) and kitchens (33%). Additionally, according to Houzz, common system upgrades include:
- Electrical (49%)
- Plumbing (48%)
- Heating (34%)
- Security (34%)
Hire Help or DIY?
It’s an age-old question. Can I DIY, or should I hire a professional? According to Houzz, for major overhauls, 91% of homeowners plan to hire a professional in the following:
- General contractors (46%)
- Electricians (27%)
- Cabinetmakers (25%)
Meanwhile, 23% are still searching for the right professional to hire.
Are You in Good Company?
Are you looking to build your home improvement or home services brand? Let’s get in touch to see how Team TEGNA can help with your unique business and brand-building needs.